Trump represents "continuation of the status quo" - Bill Gross

Bond manager Bill Gross of Janus Capital Group has said Donald Trump will not gain more than one term as president of the United States, and has rubbished the former reality television star's promise to "drain the swamp".

Trump repeatedly claimed he would shake up Washington by getting rid of those who cosied up to corporations and investment banks, as well as those who were involved in corrupt behaviour.

However, he has been criticised in many quarters this week for making plans to appoint various members of the "establishment" which he claimed he would break up.

"His policies of greater defense and infrastructure spending combined with lower corporate taxes to invigorate the private sector continue to favor capital versus labor, markets versus wages, and is a continuation of the status quo," Gross said in his monthly investment outlook.

"His tenure will be a short four years but is likely to be a damaging one for jobless and low-wage American voters," Gross added.

Gross admitted that he did not vote for either candidate in the election, but affirmed his belief that Clinton would have done arguably less to redistribute wealth to the working class.

"Both the Clinton Democrats and almost all Republicans represent the corporate status quo that favors markets versus wages; Wall Street versus Main Street."

"That's why the American public and indeed global citizens will continually take a wrong turn in their efforts to neuter the establishment and to regain several decades' lost momentum in real wages versus real profits."

Gross gained notoriety at Allianz's Pacific Investment Management Co. as a bond manager, and has since gone on to lead the $1.7bn Janus Global Unconstrained Bond Fund.